23 Mar 2015
Gold remains firm, eyes on $1,200
FXStreet (Edinburgh) - The troy ounce of Gold is posting gains for the fourth consecutive session, now trading at shouting distance from the critical $1,200 mark.
Gold bolstered by dollar, Greece
An extension of the softer tone in the greenback plus renewed jitters on the debt talks between Greece and its euro area peers have been bolstering Gold prices, which pushed to the vicinity of the $1,200 handle on Monday.
The offered tone keeps rising around the dollar, as market participants continue to re-price the recent Fed statement and the timing of the rates lift-off (September?).
Gold important levels
At the moment the metal is up 0.68% at $1,190.55 with the immediate resistance at $1,200.58 (high Mar.6) followed by $1,209.46 (high Mar.5) and finally $1,214.56 (high Mar.3). On the flip side, a breakdown of $1,159.56 (low Mar.19) would expose $1,145.98 (low Mar.18) and then $1,142.69 (low Mar.17).
Gold bolstered by dollar, Greece
An extension of the softer tone in the greenback plus renewed jitters on the debt talks between Greece and its euro area peers have been bolstering Gold prices, which pushed to the vicinity of the $1,200 handle on Monday.
The offered tone keeps rising around the dollar, as market participants continue to re-price the recent Fed statement and the timing of the rates lift-off (September?).
Gold important levels
At the moment the metal is up 0.68% at $1,190.55 with the immediate resistance at $1,200.58 (high Mar.6) followed by $1,209.46 (high Mar.5) and finally $1,214.56 (high Mar.3). On the flip side, a breakdown of $1,159.56 (low Mar.19) would expose $1,145.98 (low Mar.18) and then $1,142.69 (low Mar.17).